Karachi: The trading suspension of M/s. First National Bank Modaraba shares will continue for an additional 60 days starting July 11, 2025, due to unresolved compliance issues. The decision follows an earlier notice, PSX/N-491, issued on May 9, 2025, by the Pakistan Stock Exchange (PSX).

The ongoing suspension stems from the Modaraba's failure to address the reasons for the initial trading halt. These include non-compliance with Clause 5.11.1.(a) and 5.11.2.(b) of the PSX Regulations, specifically the suspension of commercial production and business operations in its primary line of business. Furthermore, a winding-up petition has been filed by the Securities and Exchange Commission of Pakistan (SECP) against the Modaraba in court.

According to information available from the Pakistan Stock Exchange (PSX), the decision to maintain the suspension aligns with the powers granted to the Exchange under Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations. The Modaraba's shares will remain off the market until the causes of suspension are rectified or the 60-day period concludes.

The designated market category affected by this decision involves financial instruments related to Modarabas, as the First National Bank Modaraba continues to address regulatory and operational challenges.